Money
Expenses and recurring bills
Expenses are recorded against a category, a branch and the account they were paid from, with a receipt image if you have one. A recurring expense runs on a day of the month at a time you set, in your own timezone, and creates the expense for you.
What it does
Profit is not revenue minus the cost of parts. Rent, wages and electricity are the difference between a shop that looks busy and one that makes money.
An expense records its category, amount, date, branch and which account it came out of. Attach the receipt and it stays with the record.
One expense can be split across several accounts, for the case where a bill is settled partly in cash and partly from the bank.
Fixed bills become templates. Set the day of the month, the time and the timezone, and Fixmo creates the expense on schedule. Shorter months are handled by clamping to the last day, so a template set for the thirty first still runs in February.
A template can carry an end date, after which it stops on its own.
Every capability
| Categories | Rent, utilities, supplies, shipping, marketing, salaries, other |
|---|---|
| Recorded | Amount, date, description, branch and account |
| Receipt | An image attached to the record |
| Splits | One expense across several accounts |
| Recurring | Day of month, hour and minute, in your timezone |
| Short months | A day past the month's end clamps to the last day |
| End date | Optional. The template stops after it |
| Generated expenses | Linked back to the template that created them |
| Notification | An alert when a recurring expense runs |
| Deactivate | Pause a template without deleting it |
Questions
What happens to a recurring bill set for the 31st in February?
It runs on the last day of the month. The day is clamped rather than skipped.
Can one bill be paid from two accounts?
Yes. Split the expense across accounts and each part is recorded separately.
Do recurring expenses run in my local time?
Yes. The template stores your timezone and the next run is worked out from it.